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Oil Prices

Oil rises after Trump assurance on China trade deal

On Tuesday, Oil prices rose after a volatile session sparked by confusion over the status of the U.S.-China trade deal. Brent crude rose 49 cents, or 1.1%, to $43.57 a barrel by 0933 GMT, having skidded to a session low of $42.21. U.S.…

Oil falls on fears over rising virus cases worldwide

On Monday, oil prices fell as concern grew that a record rise in global coronavirus infections could stall recovery in fuel demand, outweighing tighter supplies from major producers. Brent crude LCOc1 was down 24 cents, or 0.6%, at…

Oil prices rise on supply cuts, improving demand

On Tuesday, Oil prices rose, with Brent crude rising above $40 a barrel, as the IEA increased its oil demand forecast for 2020 and as record supply cuts supported. In its monthly report on Tuesday, the International Energy Agency (IEA)…

Oil falls amid fears of coronavirus second wave

On Monday, Oil prices fell as new coronavirus infections hit China, Japan and the United States, adding to concerns that a resurgence of the virus could hamper a recovery in fuel demand. Brent crude was down 15 cents, or 0.4%, at $38.58…

Oil falls below $41

Oil fell more than 1% to below $41 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand because of the coronavirus crisis. crude stocks rose by…

OPEC, Russia to extend record oil cuts to end of July

OPEC, Russia and allies were set on Saturday to extend record oil production cuts until the end of July after crude prices doubled in the past two months on the back of their efforts to withdraw almost 10% of global supplies from the…

Oil prices rise before OPEC+ meeting

Oil prices rose on Tuesday on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week. Benchmark Brent crude LCOc1 rose 2.3%, or 88 cents, to…